Fashion retailer M&Co is to become the latest chain to wave goodbye to high street trade after confirming all UK stores are to shut.
Nearly 2,000 jobs will be lost when the company closes its shop doors for good this Easter.
The firm, formerly known as Mackays, currently has shops in Stornoway, Inverness, Thurso, Wick, Kirkwall, Nairn, Dingwall, Elgin, Banff, Buckie, Inverurie, Peterhead, Aberdeen and Stonehaven.
M&Co employs 1,910 staff in 170 shops across the UK.
The company’s website is also due to be closed down in a matter of months.
The announcement comes after Peterborough-based firm A K Retail Holdings, owners of Yours Clothing, BadRhino and Long Tall Sally, stepped in to rescue the brand.
M&Co bosses say the firm has purchased The M&Co brand, however, they confirmed this does not include a future for their stores, website or staff.
‘We thank you all for your continuous support’
In a statement, posted on social media, staff appealed for “respect and understanding” amidst a difficult time.
They wrote: “Unfortunately we haven’t received the news we would have hoped for during our administration period, and would like to share this news with you.
“As we haven’t received any funded, deliverable offers that would result in the transfer of the company’s stores or staff to a potential buyer, this means that all of our stores will close. The M&Co ‘Brand’ has been purchased, but unfortunately, this does not include a future for our stores, website or staff.
“We will trade all of our stores until Easter, and then begin the close-down process. We will update you closer to the time, of our actual closing date.”
They added: “We hope you will appreciate this is also a very difficult time for staff working in the stores and we ask for respect and understanding when raising an issue.
“We thank you all for your continuous support, and we hope to see you all over the next couple of months.”
M&Co collapsed into administration in December following a tumultuous period of trade.
Bosses said rising costs and a decline in customer confidence had significantly impacted their trade.
Teneo Financial Advisory was appointed as joint administrators as the search for a new buyer began.
It was the second time the retailer had called in administrators as it faced collapse.
In 2020, the firm closed 47 stores and axed 381 jobs as part of a pre-pack administration deal.
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